Independent journal on economy and transport policy
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Fusion in the field tanker between General Maritime Raw Corporation and Navig8 Tankers
the new Gener8 company Maritime will have a fleet of 46 tankers
February 26, 2015
Maritime the shipowning society American General Corporation and the Raw compatriot Navig8 Tankers Inc. the companies have signed in definitive way an agreement of fusion approved of from the boards of directors of both that will be put into effect through a transaction stock-for-stock. The understanding previews that a branch of General Maritime of new constitution, called Gener8 Maritime, acquires the entire capital of the Navig8 Raw and that the shareholders of this last one receive 0,8947 set in action of the new society for each Raw action of Navig8 in they possession.
Al term of the operation, than second the forecasts will be completed within the first semester of this year, the current Maritime shareholders of General will stop 52.55% of the entire capital of Gener8 Maritime, while the current Raw shareholders of Navig8 will possess remaining 47.45%. Gener8 Maritime will have registered office in the Islands Marshall and operating center to New York.
Gener8 Maritime will currently have a fleet of 46 tankers, included 21 Very Large Raw Carrier (VLCC) of new construction and 25 ships in service between which seven VLCC, 11 Suezmax, four Aframax, two Panamax and a Handymax. The fleet will under construction have an ability pairs to beyond 11 million gross a medium age and capacities in tons less 5,5-year-old after the delivery of the ships.
The two Maritime companies have specified that Gener8 will employ own ships in the pools managed from the Navig8 group.
"Gener8 the Maritime, graces to one of greatest, young and more efficient fleets of the field - it has emphasized the chairman of General Maritime, Peter Georgiopoulos - very will be placed in order to benefit from the improvement of the conditions of the market and from the increasing length of the travels".
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Maritime the shipowning society American General Corporation and the Raw compatriot Navig8 Tankers Inc. the companies have signed in definitive way an agreement of fusion approved of from the boards of directors of both that will be put into effect through a transaction stock-for-stock. The understanding previews that a branch of General Maritime of new constitution, called Gener8 Maritime, acquires the entire capital of the Navig8 Raw and that the shareholders of this last one receive 0,8947 set in action of the new society for each Raw action of Navig8 in they possession.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
